What is audit quality and how do you measure it? 

You’re so very welcome ☺️

Thanks Christian!

Thank you Sanjoy ☺️🙏

@@amandalovestoaudit I am in ❤️with Audit now ! I am sure thousands of students around the globe are benefiting from your wonderful presentation ! May God Bless you 🙏🏼🙏🏼🙏🏼

Hi MK - all bodies use some sort of checklist - but they don’t disclose it to the public 😊

Oooh - I think it’s a reasonable measure - but very noisy.

Thank you 🙏🙏🙏

Hi Abdur - all of the government oversight agencies have undisclosed measures when they inspect the audit files as part of their international obligations - however there is no public disclosure of how they determine audit quality. Audits that fail to detect a misstatement do not meet the quality requirements - but we only uncover *some* of these when companies fail (eg Wirecard) - however, there are likely many companies still oeprating where the auditor did not detect a misstatement but it is impossible to identify these firms unless they publicly retract and re-state their financial statements :)

Yes - there should be always some level of review. The big question though is who reviews the work of the regulators? (who review the audits performed by firms)

There is no such thing as perfection! It is all about continually learning and building experience. Audit is built on auditor judgements.

Many thanks Amanda

It depends on the perspective you are taking - user, researcher, regulator - they all have different perceptions :)

It's a good point - the customer often feels like it is a regulatory imposition that they can't escape - this hasn't been something that has received a lot of research attention.

then u do a video

😂 thanks Tony 😊